Quarterly, page-184

Hi All

Woodside Petroleum (WPL) -5.00%, Santos (STO) -5.14%, Origin Energy (ORG) -5.24% and AWE -6.82% falling to levels close to the pre asset sale share price.

We're doing okay.

Agree I was wrong to say low 20s is a certainty. I do, though, think it is more likely than not.

Unsurprisingly our forum is suffering creeping despondency. That will happen if we get mired in the daily grind that is today's market. But let's lift our sights.

> There is now no doubt we have struck shiteloads of oil.
> Thus far it flows extraordinarily well (no pun intended).
> Thus far we are dealing with one connected reservoir. Fingers crossed on this one.
> The FAN Field lurks in the wings like Banquot's ghost.
> Everywhere else our seismic has peeked we see good prospects.
> Just for good measure we've widened the scope and quality of the seismic to spot more elephants.
> COP and Cairn remain fully committed. Again, cross your fingers on this one as the OP vice tightens.
> I read (from memory) an incredible $1.8 trillion* of forward expenditure has been ripped out of the industry. This one for me is our biggest hope of a multi-multi bagger, because even the biggest of the big will pay good coin for a large proven resource that will save them the bother, cost and risk of exploration.

Hang tight, all. It's going to happen.  FAR just needs to ensure its survival to see it and I notice there is no longer any criticism of the last CR - it has bought us six months during which surely the OP must begin to recover.

OOO

* I've made that up, haven't I.